The government has offered support for retail, hospitality and leisure businesses. There is a business rates holiday for the 2020-21 tax year, as well as cash grants, for these businesses
Businesses in the retail, hospitality and leisure sectors in England will not have to pay business rates for the 2020-21 tax year. Businesses that received the retail discount in the 2019-20 tax year will be rebilled by their local authority as soon as possible.
Your business is in the retail, hospitality and/or leisure sector. Properties that will benefit from the relief will be those that are wholly or mainly being used:
a. as shops, restaurants, cafes, drinking establishments, cinemas and live music venues,
b. for assembly and leisure; or
c. as hotels, guest and boarding premises and self-catering accommodation.
How to claim?
This will apply to your business rates bills for the 2020/2021 tax year. However, local authorities may have to reissue your bill. They will do this as soon as possible.
The Retail and Hospitality Grant Scheme provides businesses in the retail, hospitality and leisure sectors with a cash grant of up to £25,000 per property.
Businesses in the above-mentioned sectors with a property that has a rateable value of up to £15,000 will receive a grant of £10,000. Those with a property that has a rateable value of between £15,000 and less than £51,000 will receive a grant of £25,000. You are eligible for the grant if:
- Your business is based in England
- Your business is in the retail hospitality and leisure sectors
- your business has a rateable value of under £51,000
How to claim?
You do not need to do anything. Your local authority will write to you if you are eligible for this grant. You can find your local authority by using this link. You can find further information on financial support here.
Additional information can be found here:
Please note this is the guidance as we understand at the time of the announcement. As you are aware, the information is changing on a daily basis and we cannot be held responsible if the advice or guidance changes or if our interpretation does not subsequently prove to be correct.